Question: There are three types of accounting changes: changes in accounting principles, changes in accounting estimates, and changes in reporting entities. Required Explain the differences and

There are three types of accounting changes: changes in accounting principles, changes in accounting estimates, and changes in reporting entities.
Required
Explain the differences and similarities between each of these types of changes, and explain the correct accounting for each. Include a discussion of the advantages and disadvantages of the required accounting method.

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A change in accounting principle occurs when a company adopts a generally accepted accounting principle that is different from the one previously used for reporting In general a change in an accountin... View full answer

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